European Economics

France, Belgium, Italy, Portugal, Spain.

All of the countries listed above use what currency?

Which of the following BEST describes a market economy?

Which term best describes an economic system in which the people-not the government-own land, factories, and businesses.

The Czech Republic is Eastern Europe's largest exporter of electricity. Any interruption or damage to the supply lines would no only impact the Czech Republic but also the economy and quality of life for 5 other European countries who import their electricity. The Czech Republic is also dependent on other European countries for machinery, raw materials, and fuels that it imports every year.

Which economic term describes the relationship between the Czech Republic and other European countries?

Germany, Russia, and the United Kingdom have what type of economy?

Many countries in Europe have switched to the euro, the currency of the European Union. Using the euro gives them many advantages. The greatest advantage is having a single currency for several different countries. A single currency means that businesses can sell goods and services to consumers in other countries without worrying about any exchange rates. People traveling between countries also do not have to worry about exchange rates.

According to the passage above, which of the following is a benefit of the euro to consumers

In a command economy, who decides what to produce, how to produce, and when to produce?

Understanding that people want to save money, a Swedish teenager named Ingvar Kamprad, set out to establish a furniture company that sold quality pieces at a much lower price than competitors. The company established grew to be the largest furniture company in the world. His company, IKEA, continues to succeed all over the world.

In the passage above, Ingvar Kamprad is an example of

One barrier to trade between the United Kingdom and other countries within the European Union is that the United Kingdom

With the end of the Soviet, Russia has attempted to improve its economy by making it more of a

The United Kingdom is one of the leading fishing nations in the world because

The Federal Republic of Germany has for many years benefited from a highly skilled population that enjoys a high standard of living. Since unification, however, Germany has faced the economic challenge of transforming the former East Germany from a weakening command economy to a technologically advanced market economy. Unemployment in eastern Germany has remained higher that western Germany.

Which of these is the reason that eastern Germany has a poorer economy than western Germany?

Which of the following is found in a market economy?

The European Union creates a single market in many countries. Businesses are able to operate without trade barriers or restrictions, and companies throughout Europe have equal opportunities to reach customers. This often results in greater choice and lower prices for consumers.

According the the passage above, consumers benefit from lower prices in the European Union's single market. Which of the following best explains the reason.

Which word has the same meaning as "tariff"?

The economic system of communist countries is closely related to with of the following?

True or False:
When a country has a market economy the government controls most of the businesses.

True or False?
Germany has a higher GDP than Russia and the United Kingdom.

According to the economic continuum on the board, which country is more command?

True or False:
The currency used in the United Kingdom is the pound